Star, Carnival Declare Victory In NCL Matter

Friday, February 11, 2000
Star Cruises and Carnival Corp. declared victory in a takeover bid for Norwegian cruise group NCL Holding, saying they controlled more than 90 percent of the shares. Arrasas Ltd., 60 percent owned by Star and 40 percent by Carnival, said it controlled 247.88 million shares, or 92.6 percent, of NCL under the $1.9 billion stock and debt takeover offer. Under Norwegian law, firms can force minority shareholders to accept a takeover offer by surpassing 90 percent control. Star and Carnival, the world's biggest cruise group, joined forces last month behind a 35 crowns per share offer for NCL. Carnival had previously launched a bidding battle in December by offering 30 crowns per share for NCL on its own. Star, which is strong in Asia and is the world's fifth largest cruise group, also aims to set up a joint marketing deal with Carnival, strongest in the United States and Europe. NCL is fourth biggest. The Star-Carnival offer expired on February 10. The two companies last week sacked the board of NCL and appointed a new leadership, headed by Oslo lawyer Ole Lund who is also chairman of state oil firm Statoil.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

MNZ & AMSA Award McMurdo COSPAS-SARSAT Contract

McMurdo Group’s Techno-Sciences Inc. says it has been chosen by the Australia Maritime Safety Authority (AMSA) and Maritime New Zealand (MNZ) to deploy their next-generation

Panama Canal Infrastructure to be Valued by VRC

Leading provider of independent valuations, Valuation Research Corporation (VRC) says it has been engaged by the Panama Canal Authority to value the locks, dams,

Box Ships on Slippery Containership Slope in Q2

"The reduced charters on the 'Box Queen', 'CMA CGM Marlin' and 'CMA CGM Kingfish' were the contributing factors to the 24% decline in our adjusted time charter revenues year over year,

Cruise Ship Trends

Cruise Ship Gets Within 298-miles of the N. Pole

Hapag-Lloyd Cruises say that their expedition ship 'Hanseatic' has set a new record for passenger ships in the Northeast Passage, when the 122.8-metre-long ship reached the northernmost point at 85°,

Norwegian to Buy Prestige Cruises in $3b Deal

Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion

Keel Laid for Holland America Line’s New Ship

Holland America Line celebrated the keel laying of its new 2,650-guest Pinnacle Class ship on August 22 at Fincantieri’s Marghera shipyard in Italy. A 680-ton block

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1118 sec (9 req/sec)